"as legal tender after decimalisation (as 5p and 10p respectively) until 1993, but are now officially demonetised. At various times, the pound sterling was commodity money or bank notes backed by silver or gold, but it is currently fiat money, backed only by the economy in the areas where it is accepted. The pound sterling is the world's oldest currency still in use and which has been in continuous use since its inception. The ""pound"" was a unit of account in Anglo-Saxon England, equal to 240 silver pennies and equivalent to one pound weight of silver. It evolved into the"
"Penny (British pre-decimal coin) The pre-decimal penny (1d) was a coin worth of a pound sterling. Its symbol was d, from the Roman denarius. It was a continuation of the earlier English penny, and in Scotland it had the same monetary value as one pre-1707 Scottish shilling. The penny was originally minted in silver, but from the late 18th century it was minted in copper, and then after 1860 in bronze. The plural of ""penny"" is ""pence"" when referring to a quantity of money and ""pennies"" when referring to a number of coins. Thus 8d is eight pence, but ""eight"
"relates to coins minted with that particular mint mark. ""H"" refers to the Heaton Mint, and ""KN"" to the King's Norton Mint, both of which were contracted to mint supplemental pennies on occasion. From 1825 to 1970 a total of 3,629,384,952 pennies were minted. Penny (British pre-decimal coin) The pre-decimal penny (1d) was a coin worth of a pound sterling. Its symbol was d, from the Roman denarius. It was a continuation of the earlier English penny, and in Scotland it had the same monetary value as one pre-1707 Scottish shilling. The penny was originally minted in silver, but from"
"as gift products such as gold coins set into jewellery. Before decimalisation in 1971, the pound was divided into 240 pence rather than 100, though it was rarely expressed in this way. Rather it was expressed in terms of pounds, shillings and pence, where: Thus: £1 = 240 pence. The penny was further subdivided at various times, though these divisions vanished as inflation made them irrelevant: Using the example of five shillings and sixpence, the standard ways of writing shillings and pence were: The sum of 5/6 would be spoken as ""five shillings and sixpence"" or ""five and six"". The"
"Ten pence (British coin) The British decimal ten pence (10p) coin – often pronounced ""ten pee"" – is a unit of currency equalling ten one-hundredths of a pound sterling. Its obverse has featured the profile of Queen Elizabeth II since the coin's introduction in 1968, replacing the florin coin in preparation for decimalisation in 1971. Four different portraits of the Queen have been used on the coin, with the latest design by Jody Clark being introduced in 2015. The second and current reverse, featuring a segment of the Royal Shield, was introduced in 2008. Five pence and ten pence coins"
"designs as ""iconic themes that are quintessentially British"". Ten pence (British coin) The British decimal ten pence (10p) coin – often pronounced ""ten pee"" – is a unit of currency equalling ten one-hundredths of a pound sterling. Its obverse has featured the profile of Queen Elizabeth II since the coin's introduction in 1968, replacing the florin coin in preparation for decimalisation in 1971. Four different portraits of the Queen have been used on the coin, with the latest design by Jody Clark being introduced in 2015. The second and current reverse, featuring a segment of the Royal Shield, was introduced"
"coins' designs. As of 31 March 2016, there were an estimated 30.14 billion coins circulating in the United Kingdom. The first decimal coins were circulated in 1968. These were the five pence (5p) and ten pence (10p), and had values of one shilling (1/-) and two shillings (2/-), respectively, under the pre-decimal £sd system. The decimal coins are minted in copper-plated steel (previously bronze), nickel-plated steel, cupronickel and nickel-brass. The two-pound coins, and, as from 28 March 2017 the new one-pound coins, are bimetallic. The coins are discs, except for the twenty pence and fifty pence pieces, both of which"
"Penny (British decimal coin) The British decimal one penny (1p) coin, usually simply known as a penny, is a unit of currency equaling one one-hundredth of a pound sterling. The penny’s symbol is p. Its obverse has featured the profile of Queen Elizabeth II since the coin’s introduction on 15 February 1971, the day British currency was decimalised. Four different portraits of the Queen have been used on the coin, with the latest design by Jody Clark being introduced in 2015. The second and current reverse, featuring a segment of the Royal Shield, was introduced in 2008. The correct plural"
"Halfpenny (British pre-decimal coin) The British pre-decimal halfpenny (d) coin, usually simply known as a halfpenny (pronounced ), historically occasionally also as the obol, was a unit of currency that equalled half of a penny or of a pound sterling. Originally the halfpenny was minted in copper, but after 1860 it was minted in bronze. It ceased to be legal tender in 1969, in the run-up to decimalisation. The halfpenny featured two different designs on its reverse during its years in circulation. From 1672 until 1936 the image of Britannia appeared on the reverse, and from 1937 onwards the image"
"counted as 5p (five new pence) instead of 12d (twelve old pennies). The pre-decimalisation sixpence, also known as a sixpenny bit or sixpenny piece, was equivalent to p, but was demonetised in 1980. Some pre-decimalisation coins or denominations became commonly known by colloquial and slang terms, perhaps the most well known being ""bob"" for a shilling, and ""quid"" for a pound. A farthing was a ""mag"", a silver threepence was a ""joey"" and the later nickel-brass threepence was called a ""threepenny bit"" ( or bit, i.e. thrup'ny or threp'ny bit – the apostrophe was pronounced on a scale from full"
"it bore the portrait of the monarch on the obverse. Before Decimal Day in 1971, there were 240 pence in one pound sterling. There were four farthings in a penny, 12 pence made a shilling, and 20 shillings made a pound. Values less than a pound were usually written in terms of shillings and pence, e.g., three shillings and six pence (3/6), pronounced ""three and six"" or ""three and sixpence"". Values of less than a shilling were simply written in pence, e.g., 8d, pronounced ""eightpence"". A price with a farthing in it would be written like this: (19/), pronounced ""nineteen"
"£sd £sd (occasionally written Lsd, spoken as ""pounds, shillings and pence"" or pronounced /ɛlɛsˈdiː/ ell-ess-dee) is the popular name for the pre-decimal currencies once common throughout Europe, especially in the British Isles and hence in several countries of the British Empire and subsequently the Commonwealth. The abbreviation originates from the Latin currency denominations ""librae"", ""solidi"", and ""denarii"". In the United Kingdom, which was one of the last to abandon the system, these were referred to as ""pounds"", ""shillings"", and ""pence"" (""pence"" being the plural of ""penny""). This system originated in the classical Roman Empire. It was re-introduced into Western Europe"
"""threepenny bit"" (, or ); a sixpence was a ""tanner"", the two-shilling coin or florin was a ""two-bob bit"", the two shillings and sixpence coin or half-crown was a ""half dollar"" and the crown was a ""dollar"". Slang terms are not generally used for the decimal coins that replaced them but in some parts of the country, ""bob"" continues to represent one-twentieth of a pound, that is five new pence, and two bob is 10p. For all denominations ""p"" is used for pence. In the United Kingdom the term ""shrapnel"" may be used for an inconvenient pocketful of loose change"
"Two pence (British decimal coin) The British decimal two pence (2p) coin – often informally pronounced ""two pee"" – is a unit of currency equalling 2/100ths of a pound sterling. Its obverse has featured the profile of Queen Elizabeth II since the coin's introduction on 15 February 1971, the year British currency was decimalised. Four different portraits of the Queen have been used on the coin, with the latest design by Jody Clark being introduced in 2015. The second and current reverse, featuring a segment of the Royal Shield, was introduced in 2008. One penny and two pence coins are"
"cupronickel. Prior to Decimal Day in 1971 there were 240 pence in one pound sterling. Twelve pence made a shilling, and twenty shillings made a pound. Values less than a pound were usually written in terms of shillings and pence, e.g. forty-two pence would be three shillings and six pence (3/6), pronounced ""three and six"". Values of less than a shilling were simply written in terms of pence, e.g. eight pence would be 8d. Although the coin was not minted until the sixteenth century, the value of a shilling had been used for accounting purposes since the Anglo-Saxon period. Originally,"
"bit. Before Decimal Day in 1971 there were two hundred and forty pence in one pound sterling. Twelve pence made a shilling, and twenty shillings made a pound. Values less than a pound were usually written in terms of shillings and pence, e.g. forty-two pence would be three shillings and six pence (3/6), pronounced ""three and six"". Values of less than a shilling were simply written in terms of pence, e.g. eight pence would be 8d. The three pence coin – expressed in writing as ""3d"" – first appeared in England during the ""fine silver"" coinage of King Edward VI"
"are most commonly 100 sub-units to the base currency unit, but currencies based on 1,000 sub-units also exist, especially in Arab countries. The Chinese Yuan is widely considered to be the first to use decimal currency . For example: Historically, non-decimal currencies were much more common: such as the British pound sterling before decimalisation in 1971. Until 1971, the pound sterling had sub-units of account of shillings (20 to a pound) and pence (12 to a shilling). Like other currencies, it also had coins with other names (ha'pence, guineas, and crowns); and in addition, until 1960 the penny was divided"
"""new pence""). The symbol for the penny is ""p""; hence an amount such as 50p (£0.50) properly pronounced ""fifty pence"" is more colloquially, quite often, pronounced ""fifty pee"" /fɪfti pi/. This also helped to distinguish between new and old pence amounts during the changeover to the decimal system. A decimal halfpenny was issued until 1984, but was removed due to having a higher cost to manufacture than its face value. Before decimalisation, the pound was divided into 20 shillings and each shilling into 12 pence, making 240 pence to the pound. The symbol for the shilling was """"s"".""—not from the"
"Coins of the pound sterling The standard circulating coinage of the United Kingdom is denominated in pounds sterling (symbol ""£""), and, since the introduction of the two-pound coin in 1994 (to celebrate the 300th anniversary of the Bank of England 1694–1994), ranges in value from one penny to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 (new) pence. From the 16th century until decimalisation, the pound was divided into 20 shillings, each of 12 (old) pence. British coins are minted by the Royal Mint in Llantrisant, Wales. The Royal Mint also commissions the"
"Five pence (British coin) The British decimal five pence (5p) coin – often pronounced ""five pee"" – is a unit of currency equaling five one-hundredths of a pound sterling. Its obverse has featured the profile of Queen Elizabeth II since the coin’s introduction on 23 April 1968, replacing the shilling in preparation for decimalisation in 1971. A smaller version of the coin was introduced in June 1990 with the older coins being withdrawn on 31 December 1990. Four different portraits of the Queen have been used, with the latest design by Jody Clark being introduced in 2015. The second and"
"coin. These varied between denominations and issues; some were personal to the monarch, others were more general. Some of the mottos were: Coins of the pound sterling The standard circulating coinage of the United Kingdom is denominated in pounds sterling (symbol ""£""), and, since the introduction of the two-pound coin in 1994 (to celebrate the 300th anniversary of the Bank of England 1694–1994), ranges in value from one penny to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 (new) pence. From the 16th century until decimalisation, the pound was divided into 20 shillings,"
"History of the British penny (1901–1970) The British penny ( of a pound sterling), a large, pre-decimal coin continuing the series of pennies that began about the year 700, was struck intermittently during the 20th century until its withdrawal after 1970. Throughout the period 1901 to 1970, the obverse (""heads"" side) of the bronze coin depicted the monarch who was reigning at the start of the year. The reverse featured an image of Britannia seated with shield, trident, and helm, originally created by Leonard Charles Wyon and based on an earlier design for the penny by his father William Wyon."
"Halfpenny (British decimal coin) The British decimal halfpenny (p) coin was introduced in February 1971, at the time of decimalisation, and was worth one two-hundredth of a pound sterling. It was ignored in banking transactions, which were carried out in units of 1p. The decimal halfpenny had the same value as 1.2 pre-decimal pence, and was introduced to enable the prices of some low-value items to be more accurately translated to the new decimal currency. The possibility of setting prices including an odd half penny also made it more practical to retain the pre-decimal sixpence in circulation (with a value"
"early reign of Elizabeth II, bearing the inscription in 1953, and thereafter. wikt:ha'porth: Northern British English, from British English ""half-penny’s worth"", often used in the phrase ""daft ha’porth"". Halfpenny (British pre-decimal coin) The British pre-decimal halfpenny (d) coin, usually simply known as a halfpenny (pronounced ), historically occasionally also as the obol, was a unit of currency that equalled half of a penny or of a pound sterling. Originally the halfpenny was minted in copper, but after 1860 it was minted in bronze. It ceased to be legal tender in 1969, in the run-up to decimalisation. The halfpenny featured two"
"Penny (English coin) The English penny (plural ""pence""), originally a coin of pure silver, was introduced around the year 785 by King Offa of Mercia. These coins were similar in size and weight to the continental ""deniers"" of the period and to the Anglo-Saxon sceats which had preceded it. Throughout the period of the Kingdom of England, from its beginnings in the 9th century, the penny was produced in silver. Pennies of the same nominal value, one 240th of a pound sterling, were in circulation continuously until the creation of the Kingdom of Great Britain in 1707. The name ""penny"""
"Sixpence (British coin) The sixpence (6d; ), sometimes known as a tanner or sixpenny bit, is a coin that was worth one-fortieth of a pound sterling, or six pence. It was first minted in the reign of Edward VI and circulated until 1980. Following decimalisation in 1971 it had a value of new pence. The coin was made from silver from its introduction in 1551 to 1947, and thereafter in cupronickel. Prior to Decimal Day in 1971 there were 240 pence in one pound sterling. Twelve pence made a shilling, and twenty shillings made a pound. Values less than a"
"it has many factors. It is the smallest common multiple of one, two, three, four and six. There is still a special word for ""dozen"" in English, and by analogy with the word for 10, ""hundred"", commerce developed a word for 12, ""gross"". The standard 12-hour clock and common use of 12 in English units emphasize the utility of the base. In addition, prior to its conversion to decimal, the old British currency Pound Sterling (GBP) ""partially"" used base-12; there were 12 pence (d) in a shilling (s), 20 shillings in a pound (£), and therefore 240 pence in a"
"Half farthing The British half farthing (d) coin, usually simply known as a half farthing, was a unit of currency equaling of a pound sterling, or one eighth of a penny. It was minted in copper for use in Ceylon, but in 1842 they were declared legal tender in the United Kingdom. Two different obverses were used. Like all British coinage, it bore the portrait of the monarch on the obverse. Before Decimal Day in 1971 there were two hundred and forty pence in one pound sterling. There were four farthings in a penny. Twelve pence made a shilling, and"
"pound were usually written in shillings and pence, e.g. 42 old pence (p) would be three shillings and sixpence (3/6), often pronounced ""three and six"". Values of less than a shilling were simply written in terms of pence, e.g. eight pence would be 8d ('d' for denarius). The first sixpences were minted in 1551, during the reign of Edward VI. They came about as a result of the debasement of silver coinage in the 1540s, in particular the silver testoon, which fell in value from 12d to 6d. The debased testoon was likely useful in everyday transactions, and it was"
"these had a face value of twenty-five pence (25p), equivalent to the five shilling crown used in pre-decimal Britain. However, in 1990 crowns were redenominated with a face value of five pounds (£5) as the previous value was considered not sufficient for such a high-status coin. The size and weight of the coin remained exactly the same. Decimal crowns are generally not found in circulation as their market value is likely to be higher than their face value, but they remain legal tender. In 2008, UK coins underwent an extensive redesign, which changed the reverse designs, and some other details,"
"redesign was commissioned by the Royal Mint in 2005, and new designs were gradually introduced into the circulating British coinage from summer 2008. The pre-2008 coins will remain legal tender and are expected to stay in circulation for the foreseeable future (except for the £1 coin). Estimated as at March 2016 Stated as largest value Since decimalisation on 15 February 1971 the pound (symbol ""£"") has been divided into 100 pence. (Prior to decimalisation the pound was divided into 20 shillings, each of 12 (old) pence; thus, there were 240 (old) pence to the pound. The value of the pound"
"Threepence (British coin) The British threepence (3d) coin, usually simply known as a threepence or threepenny bit, was a unit of currency equaling one eightieth of a pound sterling, or three old pence sterling. It was used in the United Kingdom, and earlier in Great Britain and England. Similar denominations were later used throughout the British Empire, notably in Australia, New Zealand, and South Africa. The sum of three pence was pronounced variously , or , reflecting different pronunciations in the various regions of the United Kingdom. Likewise, the coin was often referred to in conversation as a , or"
"portrait <br> Twenty pence (British coin) The British decimal twenty pence (20p) coin – often pronounced ""twenty pee"" – is a unit of currency equal to 20/100 of a pound sterling. Like the 50p coin, it is an equilateral curve heptagon. Its obverse has featured the profile of Queen Elizabeth II since the coin's introduction on 9 June 1982. Four different portraits of the Queen have been used; the latest design by Jody Clark was introduced in 2015. The second and current reverse (as of 2017), featuring a segment of the Royal Shield, was introduced in 2008. Twenty and fifty"